The Potential of an Environmentally Friendly Business Strategy — Research from the Czech Republic

Abstract

This article deals with the importance of environmental factors for business strategy. It discusses the potential benefits to companies which show concern for the environment beyond their legal obligations.The main contribution of this article is in presentation of the results of a questionnaire survey concerning customer views on products certified as 'environmentally friendly'. The knowledge of the respondents concerning individual instruments was not great. Most of the respondents were unwilling to pay more than 20% more for environmentally friendly products in comparison with conventional products. Only 38% of the respondents bought environmentally friendly products repeatedly.

Firms with benefits: A systematic review of responsible entrepreneurship and corporate social responsibility literature

“…Indeed, the topics "Customer satisfaction" and "Consumer" are much more widely discussed in the CSR than in the RE literature (see Table 5). Leaning on the work of CSR scholars, entrepreneurship researchers may want to consider the extent to which communication of responsibility to customers through either eco-labels (Costanigro et al, 2015;Dauvergne & Lister, 2010) and green marketing initiatives (Yadav et al, 2016) can impact firm or brand reputation (Abdelzaher & Newburry, 2016;Hur, Kim, & Kim, 2018) and customers' willingness to pay (Chen et al, 2016;Costanigro et al, 2015;Krause, 2015). This holds even for those papers focusing explicitly on social ventures and how customers perceive these (Chung et al, 2015;Hall-Phillips et al, 2016;e.g., Park et al, 2016).…”

“…This holds even for those papers focusing explicitly on social ventures and how customers perceive these (Chung et al, 2015;Hall-Phillips et al, 2016;e.g., Park et al, 2016). Leaning on the work of CSR scholars, entrepreneurship researchers may want to consider the extent to which communication of responsibility to customers through either eco-labels (Costanigro et al, 2015;Dauvergne & Lister, 2010) and green marketing initiatives (Yadav et al, 2016) can impact firm or brand reputation (Abdelzaher & Newburry, 2016;Hur, Kim, & Kim, 2018) and customers' willingness to pay (Chen et al, 2016;Costanigro et al, 2015;Krause, 2015). Beyond customer preferences shaping company decisions, the impact responsibility measures by entrepreneurs may have on consumers' sustainable practices is another auspicious topic for exploration (Kim et al, 2015).…”

Why European Entrepreneurs in the Water and Waste Management Sector Are Willing to Go beyond Environmental Legislation

“…Regarding the drivers, market pull, unlike findings in other sectors [48,49], does not significantly foster ER. Client demands do not show any influence on the development of ER in European SMEs in the water sector.…”

“…Among these drivers, the influence of consumer demand for greener products and services has been identified as a market pull towards environmental responsibility. These drivers' real influence on firm performance has not been met with general agreement [34,38], although recent studies show that customers are now more willing to pay for products or services that have been produced in a more environmentally-conscious way [48,49]. Customer demand has been identified recently as an effective driver of environmental innovation in Irish companies [50], but information about other sectors in Europe is scarce [51][52][53].…”

Sustainability startups and where to find them

“…Park et al, 2016). Leaning on the work of CSR scholars, entrepreneurship researchers may want to consider the extent to which communication of responsibility to customers through either eco-labels (Dauvergne and Lister, 2010;Costanigro, Deselnicu and McFadden, 2015) and green marketing initiatives (Yadav, Kumar Dokania and Swaroop Pathak, 2016) can impact firm or brand reputation (Abdelzaher and Newburry, 2016;Hur, Kim and Kim, 2018) and customers' willingness to pay (Costanigro, Deselnicu and McFadden, 2015;Krause, 2015;Chen, Wen and Luo, 2016). Beyond customer preferences shaping company decisions the impact responsibility measures by entrepreneurs may have on consumers' sustainable practices is another auspicious topic for exploration (Kim, Lee and Yang, 2015).…”